BeOnPush Account Fraud And BeOnTel
All Ponzi schemes inevitably start having problems with people withdrawing money. That time has come for BeOnPush. In a recent update from the CEO of BeOnPush we find out that too many people have opened more than one account and they are withdrawing money from the earnings of the packs they have purchased. If you actually are a company that is making money from the money that people have invested in advertising, the logic of why this is a problem makes little sense. If you are a Ponzi scheme this makes total sense.
BeOnPush now has 230,000 active accounts. These account have been frozen because people were withdrawing too much money.
There are 230,000 active accounts. The problem is there are 50,000 withdrawing accounts. This means that people have opened more than one account or they are managing an account for someone else.
They have tolerated this up to this point, but they will no longer allow this.
5000 accounts that have the same identity on more than one account will be banned.
50,000 accounts will have limited access while they do “calculations” on the server.
BeOnPush Business Model:
They are not an investment bank or any type of company that offers a security.
They are not a get rich website.
They are a marketing service company that offers RTB technology.
They have their own applications where publishers target advertisements.
Buy a pack and promote your own ads which will qualify you to receive a daily sharing of the companies profits.
Soon you’ll be able to start making money with your phone. After 90 days, the company is launching a mobile application through which you can make money anywhere in the world.
BeOnPush applications will be added to a smartphone.
BeOnTel allows you to help someone buy a phone they could normally not afford.
BeOnPush profits are dependent on the team. The team is the machine of the company.
They are ultimately going to be moving everything over to BeOnTel.
BeOnPush Scam Conclusion
So what is happening with BeOnPush? They have frozen peoples accounts and they are taking the investments of some people. Then they are relaunching as BeOnTel. This is the same process I have seen every other advertising Ponzi scheme use. They collect money and then claim fraud. They take peoples money and then relaunch. This will continue until they can no longer find investors.
In my opinion, the BeOnPush scam is a Ponzi scheme. They use unverified profits from the RTB (real-time bidding) advertising market to provide cover for running a scam. They do not provide a prospectus or a balance sheet that shows that they are profitable. The only verifiable income for BeOnPush is new investor money. BeOnPush is focused on taking your money and recruiting people. All investments are final. Total loss of your investment is a real possibility. I would avoid the BeOnPush money making opportunity.